Financial Fitness and Wellness | Blog - by SARA CHEVERE

Planning out female-owned businesses in 2021: What you need to know?

According to a survey, women own four out of ten businesses in the United States. This number has increased by 114% during the last twenty years. We've seen some incredible women entrepreneurs that have run great businesses and made sure they were financially sound throughout their journeys. 

However, many have faced quite a few challenges in their entrepreneurial experiences as women, especially during Covid-19. In one of its latest studies, the U.S. Chamber of Commerce has revealed that women-owned businesses have suffered much during the pandemic in such a way that the overall health has deteriorated from 60 to 47% in July 2020. Lack of funds and saturation in the market has resulted in an economic crisis in the current scenario.

My mission is to make sure you recover from these setbacks as soon as possible and have all the necessary information to kick off a remarkable year!

While planning to start a business in 2021, women require proper planning and management, and here's...

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Is An Interest-Only Loan The Best For Me?

Most home loans payments will pay the principal-and-interest in the home. This means that your regular payments will reduce the principal (amount borrowed) as well as paying off the interest. With an interest-only loan, you only pay interest on the amount you have borrowed for an agreed period of time (usually up to 5, 7 or 10 years).

What does an Interest-Only Loan will offer you?

Lower Monthly Payment:  Because you are paying the only the interest on the loan, your monthly payment is lower. 

Payment Flexibility:  When you have an interest-only loan, it gives you the flexibility to either make your interest-only payment or put an additional amount that goes to the principal. 

Free Up Money:  Because your payment is significantly lower than a fully amortized payment, this frees up money for other things.  The smartest way to use the money that you have freed from paying towards your house is to put it towards...

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